Successfully Renting Your Car To Another Individual – Auto Insurance Company

The renting of a vehicle between two individuals makes it possible to round off its ends of month. So that this good plan is really it must take what precautions. Our recommendations on the lease, insurance for cars … and taxation.

Your car can earn you money, not just cost you. Just like the rental of your second home or a room in your home that you own, your drill, your lawnmower …, an individual can rent his car to another individual. A good track if you do not use your car regularly. The idea is not to put your car in car sharing. We advise you rather a hiring with blow by blow of your vehicle during the times when you do not use it or you are not likely to use it. Otherwise, you will no longer have control over the use of your vehicle. And that’s not the goal. It’s about making the most of the time when you’re not using it and not taking away your vehicle.

Post an ad for renting your car

Of course, your car must be in good working order. It’s primordial. And to get started, you only need a few clicks. Indeed, sites that connect individuals to rent a car, are not lacking. We have identified nearly half a dozen among them Drive, Jucar, Buzz car, Dewey’s, Livop or Koolicar. You can trust these sites because most of them have at least one insurance for cars or a renowned partner company: Allianz (Drivy), Citroen (Yes Car), iDTGV (Buzz car), LaPoste (Buzz car), Macif (Dewey’s), Maif (Koolicar), MMA (Livbop), nor auto (Buzz car), Orange (Yes Car), Total (Yes Car)…

These sites do not just display your ad and allow an individual to find your vehicle. They secure the rental: the payment of the rental, the management of the deposit, the drafting of the rental contract and especially the insurance associated with the lease. These three points are decisive. Of course you can manage everything by yourself. But you must have the method, take the time to create a lease and think about taking out specific insurance for cars during the rental period. By going through an intermediary, you remove these administrative aspects and how crucial when a disaster occurs such as an accident or a theft of the vehicle … In principle, they ask for the identity card and the driver’s license, and verify the validity of these parts. This can be a precious precaution to know who has to do.

Insure your vehicle during the rental period

That said, you still have to read the rental agreement to see if everything suits you. And for the insurance for cars, it is advisable to have a look at the proposed guarantees: civil liability, bodily cover of the driver, damage of the vehicle, replacement vehicle, legal protection … And to look at the amount of these guarantees. These are the aspects that should make you choose a particular site because during the rental of your vehicle, your usual insurance for cars ceases to apply. So both have the best support possible.

If you do not opt ​​for an equipment on your car that allows the renter to open your car, you will have to arrange the handing over of the keys. There, it is necessary to envisage a ten minutes, maximum, to make the turn of the car and to proceed to an inventory of fixtures. Take advantage of the terms of the rental: duration, mileage, gas … Take advantage of this to inform you about the trip plan and the time of handing over the keys. On the return, it will be necessary also to make an inventory of the places. If necessary, you can deduct part of the deposit to cover the costs of repairs. You have understood, the inventory is unavoidable. At the slightest dispute on the condition of the car, it is he who will prevail.

Report the rental income of your car

Income earned for renting your car is subject to income tax. Everything will depend on the frequency of rentals of your vehicle. If the rentals were occasional and non-recurring, you will have to enter your income in the box reserved for exceptional income. If the rentals are regular, carry on long period during the year and that the sums collected are lower than 32 900 euros, you must complete the form reserved for the tax regime of industrial and commercial profits. In such a situation, it means that you have largely exceeded the principle of supplementary income and switch to micro-enterprise.

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